Fall in consumer prices softens in October

Latest reading: Consumer prices were down 0.4% on a year-on-year basis in October, following a 1.0% fall in the prior month. Relative to the prior month's figures, there were higher price pressures for food and non-alcoholic beverages (+0.1% on a year-on-year basis vs -0.9% in September) and transportation (-2.8% vs -3.7% in September). In contrast, price pressures reduced for housing in October (+1.1% vs +1.2% in September). Lastly, consumer prices rose 0.19% in October on a month-on-month basis, following a 0.40% fall in the previous month.

Panelist insight: EIU economists commented on the 2026 inflation outlook: “We expect falling global energy prices, a strong currency, weak food price inflation and moderate economic growth to keep prices falling for a third consecutive year on an annual average basis in 2026. US trade tariffs are also likely to have a deflationary effect on trading partners (and the opposite impact on the domestic economy), as producers will be left with a surplus of products that have to be sold at a discount elsewhere. A more moderate pace of economic growth in the US will also prevent upward pressure on global commodity prices.”

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